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Question - On October 25, ACME Corporation received $1,250 cash in advance from various customers for services starting in November. At December 31, $700 of those services had not yet been provided. ACME Corporation has a December 31 year-end and adjusted its accounts annually.
Required -
a. Calculate the amount of service revenue earned at December 31.
b. Prepare the adjusting journal entry required at December 31.
The current market price for common shares of Echo Company is $15. What would be the percentage rate of return earned on these put options
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